Fitbit, a popular American company to offer wearable technologies launched it’s yet another product this month. The FitBit Blaze fitness watch was officially unveiled after Fitbit CEO James Park teased that new devices were on launch. This new watch was aimed to get into the increasing smart watch segment with improved fitness tracking features.
“It puts fitness first and has the right set of features that don’t overwhelm the user,” said the CEO at a news conference.
Fitbit led the global market in the third quarter with a 22.2 per cent market share and unit sales of 4.7 million for wearable tech devices, according to research firm IDC. Unfortunately, many analysts expect Apple to take the lead in the sector with its new smart watch that gets connected easily to iPhones and has fitness-tracking features.
Fitbit stocks plunged 18 per cent on apparent disappointment the company fell short in its strategy of beating Apple and other competitors. Sterne Agee analyst Rob Cihra said Fitbit Fitness watch is “not likely enough” to enhance Fitbit against its competitors. Further the analyst said that the new smartwatch appears to be a “fashionable Charge fitness band” that “offers a much smaller fraction of the functionality of its rivals, as a “not-so-smart watch with limited apps platform play.”
Hope, next time the company will consider the products of its rivals before designing a new product.